Stay in the Know 🎯

• What are you willing to pay

• Flooz Trade 2.0

• State of the NFT Market

What's your road to success in 2023?

The first premiums are in 🤯

Bitcoin premium hits 60% in Nigeria as country limits ATM cash withdrawals, Nigeria now leads the world in Google searches for "Buy #Bitcoin" 🌎

Here's the TLDR → The price of one Bitcoin (BTC) in Nigeria has skyrocketed to the equivalent of $38,000 in the local currency, the Naira, now keep in mind that BTC is currently trading at $22,975 USD, so where's the discrepancy?

Bitcoin is selling for a 60% premium in Nigeria (37,235 USD) because of increased demand. The Central Bank of Nigeria started limiting cash withdrawals to $44 per day earlier this month, they have continued to impose limits on ATM cash withdrawals amid an ongoing effort to accelerate its shift to a cashless society.

Logic check – it is inevitable everywhere, as digital currencies begin to rise, we're likely to see money moving into different directions that don't make use of centralised financial institutions.

This is a very interesting case that addresses surplus demand, this can be understood as negotiated value, a second layer to the supply and demand value, based on localised access. Curious for more, dive in 👇

Hedge against local inflation

Nigerians are hedging against the drop in value of their currency, the naira, by trading more dollar-denominated digital assets.

Nobody wants to have a million naira worth $2,000 today and then tomorrow, your one million naira is now worth $1,500. So, everybody is basically trying to hedge against the dollar. No matter how bad the naira falls, their money is not affected.

To put things into perspective, the naira has been depreciating steadily for months, losing more than 30 percent of its value within the last year. Now compare that to BTC (despite the recent turbulence relative to its cycles) has risen almost 40% since the turn of the year.

Food for thought, how would you cope with the status quo?

Flooz Trade 2️⃣ · 0️⃣

Flooz Trade is built for the next-gen of investors.

As we move into 2023, we've decided to take a strong stance on the products we are building, this means leaving behind some great initiatives, and doubling down on the ones that are fundamental to our contribution in web3 at large.

Our year started out with one vision, to build a product that people love. Last year saw us solving many problems with innovative solutions, that paved the way for web3 adoption. Now it's time to look beyond the core needs, and gradually shape our platform to become a hub for curious investors, traders and researchers – much like ourselves.

Your DYOR hub in crypto 🕵️

So, what's new, how does it work and will it pump my bags? We'll answer the first two, and hopefully provide you with the know-how and toolset to secure the third part yourself.

Head over to Flooz.Trade to discover the new trading experience, and follow these simple steps, so you can level up your trading routine.

Step 1 → explore

Great investors have always learnt by doing. We like to build smart tools, so you can learn from them. Hit explore and check out any #crypto wallet to dive into their portfolio.

Feeling lucky? Hit any token on the list and deep dive into the project’s stats.

Pro tip, follow investors that hold the same assets you do, keep track of their portfolio balance via the activity section, and analyse their trading strategy in comparison to your own moves.

Step 3 → instantly swap any token

We give you access any crypto across BSC, ETH and Polygon, so you can trade in and out of any project at an instance. That’s why both first-time and pro-traders use Flooz, one place for every token – fully decentralised.

Welcoming all degens, journalists, and researchers alike, let’s get smart together. Spoiler alert, expect some awesome design updates across the next weeks 🔥

State of the NFT Market 📊

Besides the mainstream crypto market, we're particularly excited about the NFT space right now. If you're looking for your January crypto market outlook, check out this article from Forbes to stay updated.

The cumulative market cap of the NFT space has risen to 8.8 million ETH, or ~$14.2B USD, a week-over-week climb of 6%. At a time when many mainstream critics are writing off NFTs as totally dead, the economy of digital things on Ethereum continues to thrive.

Unsurprisingly, the Sewer Pass access NFTs dominated weekly volume stats as all eyes remain on Yuga Labs’s Dookey Dash skill-based mint competition. We also saw a really strong volume showing around The Memes Collection by 6529, which has become an iconic series to watch in 2023, they've managed to secure 7th place on the top-25 NFT collections of this month.

Conclusion on NFTs for the first month of 2023

Sales fell to 99K last week, 4.5% less than the week before. In addition, sales (USD) fell slightly by 2.83%, from $118 million to $115 million. While active market wallets shrank by 3.22%, unique sellers dipped by 6.24%.

So, NFTs are active but are still fluctuating, although the good news is that there are always opportunities, and with prices being significantly lower than the highs in 2021, perhaps it is a good time to start doing some research!

If you have the capital and want to find some exciting NFT collections, then be sure to use our platform to find out what NFTs are in demand and what whales are holding!

Follow the money, head over to Flooz.Trade and search for any collection or NFT wallet 🕵️

Rising Sales

Here's a quick peek at the largest NFT sales past 24H, this positive uptrend has contributed to the overall rising market cap of NFTs in January 2023.

Stats via Degenz.Finance

Top 25 NFT collections across the last 30 days

Here's a snapshot of this months movers and shakers, as we can see the SewerPass mint is ranking top, with an insane 4,2943629.78

In our last newsletter we spoke about our participation in the BAYC Sewer Mint, here's another recap on their trade volume, and the cascading effect on ApeCoin.

Top 5 NFT Marketplaces across the last 30 days

As you'd expect, Opensea breaks out with a decisive volume lead, let's see if the upcoming creator-first marketplaces are able to change the course of action this year.

Are you looking to make your next break through in the NFT market? Make sure to check out the below thread for some pointers 🏀

Talking about momentum in NFTs, our very own Gen–F NFT collection is nearing completion, this will be one of the very few collections that contains 3D artworks, providing you with a digital identity to enter the metaverse.

Flooz News Room 🤌

Three insightful threads weekly to level up your knowledge!

Kevin Rose, a co-founder of Proof Collective and projects like Moonbirds, was tragically hacked last week. He was tricked into signing a bad transaction that seemed legit, at which point a hacker was able to swipe out dozens of grail NFTs from one of his wallets.

This caused him to lose $2m+ in assets...

Here's the breakdown of what caused the hack, and how to stay vigilant ⚠️

The episode is an unfortunate and stark reminder that in this early crypto frontier, one slip up can be enough to give hackers the in that they need. The good news? There is a growing field of resources that people can use to prevent these sorts of NFT thefts.

Zoom out, and see the upside 👇

Looking to build a portfolio in crypto? Start right away 📲

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.